Factor holds workshop on Climate Finance and the preparation of Concept Notes for the project: “Environmental and territorial studies for sustainable development of Portoviejo”

14 August 2019
| CO2

During the month of July, Factor’s team carried out the workshop on climate finance and the preparation of concept notes within the framework of the project: “Environmental and territorial studies for sustainable development of the city of Portoviejo” in Ecuador.

This project is developed with the support of the Development Bank of Latin America (CAF), which is the body responsible for promoting a model of sustainable development through credit operations, non-reimbursable resources and support in the technical and financial structuring of projects of the public and private sectors of Latin America. The French Development Alliance (AFD) also joins the project and together with CAF, they seek to join the region's efforts to promote sustainable development at the urban level, in addition to the integration of the Latin American region.

The general objective of the project is to develop the diagnosis of mitigation, adaptation and urban footprint of the city, along with their respective scenarios. In addition, an introduction is made to climate finance and its opportunities, pointing out how and with what scope they should structure climate finance projects.

Some of the diagnoses made include: the climate change mitigation evaluation study for the evaluation and reduction of the city's carbon footprint; the study of vulnerability assessment to climate change and disaster risk to achieve a better understanding of climate risks and facilitate proper planning; and the study of urban footprint and growth scenarios, to evaluate the urban growth of the city of Portoviejo and its dynamics under past, present and future trends in social, economic and political terms.

During the climate finance workshop, concepts associated with the mobilization of funds, as well as the operation of the Green Climate Fund were explained. In accordance with this, elements of financing proposals conceived in a Climate Financing Program for the city, linked to urban mobility, ecosystem-based risk management, among other elements yet to be defined that constitute an integral part of the policies for the reduction of emissions, disaster risk and adaptation to climate change in the Portoviejo canton, were presented.

The Factor team, represented by Ángel Valverde, Project Manager in Ecuador, and Dayana Vega, Senior Consultant, carried out the workshops that yielded the necessary information for the generation of climate finance proposals. A new meeting will be held in the coming weeks in order to close the process.

Factor is an organization specialized in providing ideas and services in the face of climate change, which has been active for 15 years, through an extensive international network of offices and collaborators.